SYS Labs Reveals Rollux Phase 2, Enriches DeFi Tools Powered by Bitcoin
In Brief
With Rollux from SYS Labs, the aim is to tackle the blockchain trilemma, focusing on speed, scalability, and cost-effectiveness.
SYS Labs , the innovative suite of Web3 tools from Syscoin, announced the latest evolution of its EVM Layer-2 solution, Rollux . Rollux taps into Bitcoin's power to boost the performance of applications operating on the Ethereum network, featuring a rich array of DeFi tools including a ZK-lite client, cross-chain bridges, decentralized exchanges (DEXs), liquidity protocols, yield aggregators, and a launchpad, all aimed at creating a resilient Web3 ecosystem.
SYS Labs' Rollux is designed to effectively respond to the blockchain trilemma by prioritizing speed, scalability, and cost reduction. Now with its Phase 2 rollout, Rollux enhances cross-chain compatibility, offering an array of Web3 tools and services that capitalize on Bitcoin’s mining network security and the reliable finality and data availability provided by Syscoin’s Layer 1.
As it transforms into a rollup anchored in the OP Stack with a data availability solution (PoDA) secured through Bitcoin's combined mining effort, Rollux is poised to significantly amplify its DeFi offerings in this upcoming phase, thus granting users and developers seamless insertion into its ecosystem.
Jagdeep Sidhu, CEO of SYS Labs stated, 'Rollux Phase 2 represents more than just a standard update; it marks a significant advancement in the DeFi landscape. With an array of groundbreaking features and a focus on community, Rollux stands as a beacon of creativity and inclusiveness.'
According to the creators, the SuperDapp driven by Rollux illustrates how a Bitcoin-based Web3 ecosystem can bolster both privacy and security for online activities. SuperDapp encompasses a variety of features, such as an AI assistant, text and video communication, a non-custodial crypto wallet, and a development marketplace. This platform brings together the finest elements of messaging, Web3 integration, and social interactions, neatly fitting into the broader Rollux ecosystem.
Rollux is built upon Syscoin’s unique dual Layer-1 framework, which incorporates both a native UTXO chain and an NEVM chain. The newly launched UTXO bridge makes the transition to Rollux’s EVM Layer 2 smoother, effectively connecting UTXO with Layer 2 in response to high demand from users.
The Rollux ecosystem includes the Pegasys DeFi exchange and AMM, the Luxy NFT marketplace, Pali Wallet for both web and mobile platforms, DAOSYS, and Camada, a compliant, non-custodial cryptocurrency trading venue.
Expanding its suite of Web3 applications and tools, Rollux now features the Chainge cross-chain aggregated DEX, the Agave DeFi lending platform, the Gamma liquidity protocol, Nexter for predictive markets, the GoRollux launchpad, Beefy for yield aggregation, and LayerSwap, a bridge facilitating rapid and direct transfers from centralized exchanges to various blockchains.
Disclaimer
In line with the Trust Project guidelines , please be advised that the content presented on this page is not meant to serve as legal, tax, investment, financial, or any form of advisory information. It’s crucial to only invest what you can afford to lose and consult independent financial professionals if you have uncertainties. For additional details, we recommend reviewing the terms and conditions, as well as the help and support resources provided by the issuer or advertiser. MetaversePost is dedicated to delivering precise and impartial reporting, but market dynamics may alter unexpectedly.